This third and final stage in the strategic management process involves developing an implementation plan and then doing whatever it takes to make the new strategy operational and effective in achieving the organization's objectives. The remainder of this chapter focuses on strategy formulation, and is organized into six sections:
Crude oil prices have dropped at a much faster pace than the drop in product prices. US refining runs (or utilization) have been weak.Singapore gross refining margins (GRMs), an important benchmark, show an improvement to $7.4 per barrel for November.Singapore GRMs for the September quarter stood at $4.8 per barrel and for the month of October was $5.4 a barrel.rude oil prices have dropped at a much faster pace than the drop in product prices. US refining runs (or utilization) have been weak.
The monthly average price of crude oil fell from $133 per barrel in July to $41 per barrel in December. Monthly average prices of diesel fuel followed suit by peaking in July at $4.764 per gallon and plunging to $1.427 per gallon in November and rising modestly to $2.45 per gallon in December.